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Crypto

Bitget Hack: $350M Stolen as Wallets Drained Across Multiple Chains

Guavy AI Editorial Team
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Crypto exchange Bitget suffered a massive breach on September 24, resulting in the loss of approximately $350 million. The attack compromised the platform's wallet backend through forged transfers, with no private keys being stolen.

Bitget CEO Gracy Chen confirmed the hack and estimated losses at $351.6 million. The exchange has since begun phased withdrawals to mitigate further damage.

The attacker moved some of the stolen funds through THORChain, swapping Ethereum for Bitcoin on September 25. This marks the first time the hacker has moved funds since the breach.

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